Viatris Signs Exclusive Licensing Deal with Lexicon for Sotagliflozin Outside U.S. and Europe
PITTSBURGH, Oct. 16, 2024 /PRNewswire/ — Viatris Inc. (Nasdaq: VTRS) has reached an exclusive licensing agreement with Lexicon Pharmaceuticals, Inc. (Nasdaq: LXRX) to market sotagliflozin in all territories outside the United States and Europe. The oral medication, approved by the FDA in May 2023, is designed to lower the risk of cardiovascular death, heart failure-related hospitalizations, and urgent visits in adults with heart failure, type 2 diabetes, chronic kidney disease, and other cardiovascular conditions.
The agreement leverages Viatris’ expertise in cardiovascular care and its Global Healthcare Gateway®, allowing partners to access more markets and patients worldwide. It aligns with Viatris’ strategy to expand its portfolio by acquiring innovative assets addressing unmet medical needs.
Corinne Le Goff, Viatris’ Chief Commercial Officer, stated, “This agreement adds to our growing cardiovascular portfolio and positions us for future growth. Our strong foundation in cardiovascular diseases and global infrastructure will help realize the full potential of sotagliflozin.”
Lexicon CEO Dr. Mike Exton expressed confidence in the partnership, citing Viatris’ expertise in cardiometabolic diseases and global commercialization capabilities. “This deal will extend sotagliflozin’s reach to more patients in need. Strategic collaborations like this support our mission to expand access to our medicines,” he said.
Transaction Details
Under the agreement, Viatris will acquire global rights to sotagliflozin, excluding the U.S. and Europe, for an upfront payment of $25 million, with additional payments tied to regulatory and sales milestones, plus royalties on net sales. Viatris will oversee regulatory and commercialization efforts in licensed regions, while Lexicon will supply the drug. The deal is expected to be accounted for as an asset acquisition by Viatris.
About Sotagliflozin
Sotagliflozin inhibits SGLT2 and SGLT1, proteins involved in glucose regulation in the kidney and gastrointestinal tract. The drug has been tested in about 20,000 patients across studies on heart failure, diabetes, and chronic kidney disease.
About Viatris
Viatris is a global healthcare company offering high-quality medicines to around 1 billion patients annually. With a diverse portfolio, extensive supply chain, and scientific expertise, Viatris aims to address global health challenges.
About Lexicon Pharmaceuticals
Lexicon is a biopharmaceutical company focused on innovative treatments. It has identified therapeutic protein targets through its Genome5000™ program and is developing medicines for various conditions, including neuropathic pain, diabetes, and metabolism disorders.
